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Local Mining Projects News

Absa Bank Backs $160 Million Loan for Pensana’s Angola Rare Earths Project

26, January, 202526, January, 2025

Pan-African lender Absa Bank, through its Corporate and Investment Banking division, has conditionally approved a credit term sheet for a 50% participation in a $160-million syndicated loan facility for London-listed Pensana’s Longonjo rare earths project in Angola. The approval is subject to the conclusion of definitive loan documentation, fulfilment of specified conditions, and obtaining political and commercial risk insurance from a reputable insurer for Absa’s exposure under the facility. The loan will provide senior funding

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Diamonds International

Canada’s Mountain Province Diamonds Sets Production Records Despite Market Challenges

26, January, 202526, January, 2025

Canadian miner Mountain Province Diamonds achieved record-breaking production at its Gahcho Kué mine in 2024, despite facing significant challenges in the global diamond market. “2024 was a year of production records and cost control, overlaid with a challenging diamond price environment,” CEO Mark Wall stated on Thursday. The company struggled with a down-cycle in the diamond market, with its average annual realized price dropping to $98 per carat—a sharp decline from $121 per carat in

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Corporate News Diamonds International

Petra Diamonds to Divest Stake in Tanzania’s Williamson Mine to Pink Diamonds Investments

26, January, 202526, January, 2025

South Africa-focused miner Petra Diamonds has agreed to sell its 75% stake in Tanzania’s Williamson Diamonds Limited (WDL) to Pink Diamonds Investments for up to $16 million (£13 million). The remaining 25% of WDL is owned by the Government of Tanzania. WDL operates the Williamson open-pit diamond mine, with Petra acquiring its majority stake in 2009. The buyer, Pink Diamonds Investments, is affiliated with Taifa, a fully Tanzanian-owned company and the long-term technical services contractor

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Diamonds

NMDC to Extract 6,500 Carats of Diamonds Worth $3.4 Million from Panna Mine

26, January, 202526, January, 2025

State-owned miner NMDC Limited is set to produce 6,500 carats of diamonds, valued at $3.4 million (₹294.13 million), during the current fiscal year from its Panna mine in Madhya Pradesh, India. The mining operation resumed following the receipt of clearances last year, according to Reuters. The company previously faced a more than three-year halt in operations due to delays in securing environmental approvals, largely stemming from the mine’s proximity to a tiger reserve. In a

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International Corporate News Oil

Woodside Energy Forecasts Flat Production in 2025 Amid Mixed Financial Results

22, January, 202522, January, 2025

Woodside Energy, Australia’s leading independent oil and gas producer, announced it expects flat production in 2025, projecting output between 186 million and 196 million barrels of oil equivalent (mmboe). This aligns with its record production of 193.9 mmboe in 2024, though analysts had anticipated figures at the higher end of the range. Despite meeting fourth-quarter revenue expectations, softer-than-expected realised prices weighed on investor sentiment, leading to a 2.4% drop in shares to A$25.12, their weakest

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Local Transport and Logistics

SADC Ministers Convene in Lobito to Discuss Agency’s Organizational Framework

22, January, 202522, January, 2025

Members of the Committee of Ministers from the Southern African Development Community (SADC) are meeting today in Benguela to deliberate on the organizational structure of the Agency. This marks the second meeting of the group, held in the rail-port city of Lobito. The discussions aim to refine the framework and operations of the Agency, aligning it with SADC’s goals of regional cooperation and sustainable development. Lobito, renowned for its strategic position and infrastructure connecting inland

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Expos & Events Local

Angola Oil & Gas Launch Reception Scheduled for January 28 in Luanda

21, January, 202521, January, 2025

The Angola Oil & Gas (AOG) Conference and Exhibition 2025 will officially launch with an exclusive reception event on January 28, 2025, at Lookal Beach Club in Luanda from 18:00 to 21:00. This event marks the beginning of preparations for the 6th edition of Angola’s premier oil and gas conference, scheduled for September 2025. AOG continues to serve as the cornerstone of Angola’s oil and gas sector, fostering investment opportunities, facilitating partnerships, and advancing key

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Corporate News Diamonds

Lucapa Unveils Promising Base Metal Targets at Merlin Diamond Project

21, January, 202521, January, 2025

Australia’s Lucapa Diamond Company has announced the discovery of two large, highly conductive base metal targets at its Merlin Diamond Project in the Northern Territory, marking a significant step in the project’s exploration potential. The findings stem from the first geophysical survey conducted at Merlin in 25 years, unveiling opportunities for significant mineral discoveries. The targets were identified through a helicopter-borne time-domain electromagnetic (TDEM) survey, which covered the 234 km² project area, including the Merlin

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International Energy

Nuclear Power Set to Break Records by 2025 Amid Growing Global Demand

21, January, 202521, January, 2025

Global nuclear power generation is projected to hit record levels by 2025, driven by rising electricity demand, new projects, and technological advancements, according to the International Energy Agency (IEA) report The Path to a New Era for Nuclear Energy. The report outlines the sector’s significant opportunities while highlighting its challenges. Nuclear power currently provides nearly 10% of global electricity, making it the second-largest source of low-emission electricity after hydropower. As global electricity demand is expected

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Corporate News International

OPEC Fund Pledges $30 Million for Egypt’s Landmark Wind Energy Project

21, January, 202521, January, 2025

The OPEC Fund for International Development (OPEC Fund) has approved a $30 million loan to co-finance Egypt’s 1.1 GW wind energy project, the largest onshore wind initiative in Africa. This loan positions the OPEC Fund alongside key financial partners, including the European Bank for Reconstruction and Development, African Development Bank, British International Investment, Deutsche Investitions-und Entwicklungsgesellschaft, the Arab Energy Fund, Arab Bank, and Standard Chartered Bank, in supporting the $1.1 billion project. Abdulhamid Alkhalifa, President

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